(INDIANAPOLIS, IN) - The Indianapolis Colts have reportedly agreed to terms on a five-year deal with cornerback Kelvin Hayden.

The Indianapolis Star and ESPN report that the deal is worth approximately $43-million dollars with more than $22-million dollars worth of guaranteed money.

The deal is front-loaded and will pay Hayden $29-million dollars over the first three years. That will put his salary cap number at between six and seven-million dollars for the next three seasons.

Hayden's agent, Fletcher Smith, tells the Star that discussions with the Colts were a "whirlwind" that "came together quickly at the end". Hayden was scheduled to become an unrestricted free agent on February 27th and Colts President Bill Polian had said the team would likely use the franchise tag on Hayden to keep the four-year veteran.

The 25-year-old cornerback was selected in the second round of the 2005 NFL draft out of Illinois and has been a starter the past two seasons.

Polian said last week that Hayden's deal was the key to the Colts' ability to re-sign the team's other free agents, including Pro Bowl center Jeff Saturday and running back Dominic Rhodes.

Hayden's signing leaves the franchise tag available to use on another player, possibly Saturday. Today is the deadline for teams to designate their franchise players.